FINANCE

Wal-Mart: Loss from bribery probe likely

BY Katherine Boccaccio

Bentonville, Ark. — Wal-Mart Stores Inc. revealed in a Tuesday SEC filing that it will most likely incur a loss from bribery probes into its operations in Mexico and other countries.

According to the filing, Wal-Mart said it expects to incur costs beyond the $157 million it spent on the probes in 2013, but didn’t elaborate on the amount or the size of the potential loss.

"Given the on-going nature and complexity of the review, inquiries and investigations, we cannot reasonably estimate any loss or range of loss that may arise from these matters," Wal-Mart said in the filing.

The allegations of bribery surfaced last April, with claims that Wal-Mart neglected to notify law enforcement that company officials authorized millions of dollars in payments in Mexico to speed up getting building permits and gain other favors. The Foreign Corrupt Practices Act forbids American companies from bribing foreign officials. Wal-Mart launched an internal investigation and is cooperating with government officials in the U.S. and Mexico.

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S.Gacho says:
Mar-28-2013 01:59 am

Bribery usually happens in
Bribery usually happens in the business world especially when a lot of competition arise. Well, you will never fail if you are a good fighter. - Rich Von

S.Gacho says:
Mar-28-2013 01:59 am

Bribery usually happens in the business world especially when a lot of competition arise. Well, you will never fail if you are a good fighter. - Rich Von

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OPERATIONS

Survey: Aldi only grocer to have loyal Facebook following

BY Katherine Boccaccio

Batavia, Ill. — Survey results released Wednesday by Facebook marketing firm LoudDoor found that discount grocer Aldi USA ranked fifth on a list of the top 20 companies with the most loyal fans. No other grocery retailer was included on the list, which tracks every major brand on Facebook and how likely those brands’ fans are to recommend them to friends or colleagues.

Other companies ranked in the top five include Google, Facebook and Walt Disney World.

Aldi launched its Facebook page in July 2012 and has gained more than 363,000 fans to date, with new fans liking the page every day.

"We’re honored that the trust our customers have in Aldi to deliver the highest quality products at the lowest possible prices has created such tremendous loyalty," said Jason Hart, president, Aldi USA.

LoudDoor conducts research and audience targeting on Facebook, asking consumers to rate how likely they are to recommend a brand they “like” on Facebook.

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S.Gacho says:
Mar-28-2013 02:01 am

Those top five companies
Those top five companies mentioned above were really good companies even before. It just means that there is a good maintenance and even good management that is why it stays that long. - Rich Von

S.Gacho says:
Mar-28-2013 02:01 am

Those top five companies mentioned above were really good companies even before. It just means that there is a good maintenance and even good management that is why it stays that long. - Rich Von

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REAL ESTATE

Great American Cookies to expand in Puerto Rico

BY Katherine Boccaccio

Atlanta — Global Franchise Group said Wednesday it is expanding its Puerto Rican presence via a multi-unit operator.

A.M.A. Pretzels International opened two Great American Cookies stores in Puerto Rico — in Plaza Carolina in Carolina, and Plaza Rio Hondo in Bayamon.

"Global Franchise Group is thrilled to have such outstanding multi-unit franchisees expand the Great American Cookies brand in Puerto Rico," said Global Franchise Group chief development officer John Barber.

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S.Gacho says:
Mar-28-2013 01:50 am

When you are planning for an
When you are planning for an expansion, it really takes a lot of preparation for it to be successful. You really needs a lot of manpower. - Steven Wyer

S.Gacho says:
Mar-28-2013 01:50 am

When you are planning for an expansion, it really takes a lot of preparation for it to be successful. You really needs a lot of manpower. - Steven Wyer

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Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

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